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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Hercules Capital Provides Up to $175MM Term Loan to blubird bio
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Lenders/Participants
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Hercules Capital, Inc. [Lender]
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Structure
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Term Loan
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Amount
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$175.000
Million
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Borrower(s)
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bluebird bio, Inc.
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Description
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A $175 million five-year, term loan facility. The term loan facility provides for up to $175 million of term loans in aggregate, available in four tranches. Upon closing of the transaction, the first tranche of $75 million was drawn. Under the terms of the agreement, bluebird will be eligible to draw two additional tranches of $25 million each, subject to the achievement of commercial milestones. Based on launch trajectory and current business plans, and assuming three tranches totaling $125 million are executed, the transaction is expected to extend bluebird’s cash runway through the first quarter of 2026. A fourth tranche of up to $50 million may be available at the sole discretion of Hercules. During the first three years of the five-year term, the Company will be responsible for paying only the interest on any amounts borrowed; any outstanding balance as of April 1, 2027 will be amortized over the remaining life of the loan
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Industry
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Biotechnology
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Location
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MA
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| Related Tags |
Biotechnology, Hercules Capital, Inc.
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ABL Advisor
Deal Tables
2025
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